Healthy flow of FDI corroborates India`s status as preferred investment destination: CII
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Industry chamber -- Confederation of Indian Industry (CII) has said healthy flow of foreign direct investments (FDI) into the country corroborates India’s status as a preferred investment destination among global investors. FDI into the country grew 19 per cent to $59.64 billion during 2020-21.
Total FDI including equity, re-invested earnings and capital, rose 10 per cent to the highest ever at $ 81.72 billion during the last fiscal year. It said ‘Despite a very challenging backdrop to the year, the strong performance by FDI flows corroborates India’s status as a preferred investment destination among global investors’.
It added that the government’s continuous thrust to keep the reforms’ momentum intact by delineating significant policy measures last year in the areas of liberalizing FDI norms in many more sectors, streamlining ease of doing business reforms, among others has reinforced the faith of global investors in India’s growth story. It said ‘This will certainly assist in a swift bounce back of the economy from a pandemic-induced slowdown we saw in the last fiscal year’.
